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mbumby
Victims of the Economy 
31st-Dec-2009 03:35 pm
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Our next-door neighbors, who moved in about 5 years ago, were nice people. Probably still are. Couple of kids, a dog (who didn't have much use for me). But nice. Well employed, although my memory doesn't fill in doing what. Year and change ago, his job went away. His hunting yielded something down south, so the family picked up and left. For a while the house was rented to 3 college students. I never met them, but they'd sometimes shovel my portion of the sidewalk we shared responsibility for, so I figure they were nice too.

Yesterday, spouse noticed a notice on the door. Makes me sad. House is on the auction block. If I could be sure it would go for 1/10 of what they want, I might try to pick it up. An extra thousand square feet (at a guess) wherein to put the library and the craft room -- even the spare bedroom, and this house might no longer be Way Too Small. (I obliterated their names in the notice -- it may be public record and not really secret, but they were nice folks and I don't think they did anything wrong, so I don't want to muddy them.)

Anybody have a free day & wanna be my neighbor?
Comments 
31st-Dec-2009 08:52 pm (UTC)
Anonymous
If it is a foreclosure auction, then, at least in Indiana, the mortgage holder will buy it for the price of the mortgage. If the bank will be the buyer at auction, the time to buy it cheap might be after the auction, when the bank is desperately trying to move the property. I know a little about Indiana foreclosure law and nothing whatsoever about your state's foreclosure law, so consult a local attorney if you are seriously interested in buying the property.
4th-Jan-2010 08:42 pm (UTC)
Not really interested, but if it were Dirt Cheap, it would be an opportunity.
31st-Dec-2009 09:23 pm (UTC)
I wouldn't mind being your neighbor, but the sun sets too early in the winter there.

Most banks were participating in the "no foreclosures during the holidays" program; it's unfortunate that your neighbors' bank wasn't. If the bank can't unload it quickly, it is likely to fall into disrepair and become nearly worthless. We got a bit of a bargain on this house, but sunk more into renovations than we expected to, straining our finances as a result. The bank also put in close to $20K to unload the house (they had to replace the septic system and do some mold remediation because the house had been closed up a while). If you decide to pick up the house next to you, be aware of the possible costs of renovations.
4th-Jan-2010 08:42 pm (UTC)
*smile* -- I understand.

And that would be QUITE a move.
31st-Dec-2009 10:03 pm (UTC)
My neighborhood is going through much the same thing. A couple of fortclosures in process, rental properties empty, a couple of former fortclosures with new owners (not sure if they will be renting or moving in) and a couple of houses up for sale, listings started near $195,000 now $145,000 and $153,000 for houses that would have sold for over $212,000 over three years ago.
4th-Jan-2010 08:43 pm (UTC)
I'm not sure if the foreclosing is better for the neighborhood in the long run than all the "for sale" signs. Neither make me very happy.
31st-Dec-2009 11:03 pm (UTC)
I wouldn't mind being your neighbor, but you have Michigan winters.

That said, the idea of having a second home (maybe for part of my library or wine) is somewhat appealing. Silly thought, huh?
4th-Jan-2010 08:44 pm (UTC)
I didn't think your knees had any problem with Michigan winters...
4th-Jan-2010 09:38 pm (UTC)
At the time(s) they knew they were visiting. :)

1st-Jan-2010 12:17 am (UTC)
I'm worried about the college students not knowing that they no longer have a place to rent in a week. Too often, the tenants are the last to know, with the most stuff to move.
4th-Jan-2010 08:46 pm (UTC)
I've not seen the college kids in ... quite a while. They might have left after April or June, and that might have sparked this latest sad turn. And if they're there & not seeing the sign stapled on the front door... :-)
1st-Jan-2010 02:00 am (UTC)
Being your neighbor: Win!

Commuting to work: not-such-a-win B-(
1st-Jan-2010 03:30 pm (UTC)
Yea, verily.
4th-Jan-2010 08:47 pm (UTC)
You could telecommute. You could probably even steal use our wireless access...
1st-Jan-2010 02:28 pm (UTC)
What a bummer. I've heard that few countries facilitate homeownership, like we do, with massive mortgages. Maybe they've got it right. Either that or we've got to stop thinking we own something that is 90% someone else's. Hurts too much when you lose it.

In terms of owning the property next door? If you were at all tempted to own income property a number of the issues of "knowing what's going on" with it would be gone.
4th-Jan-2010 08:54 pm (UTC)
NO interest in an "income" property. (I rather expect it would be a millstone, not a bonus.) Having to take my sparse "free time" to ride herd on tenants, and cry when I don't have them, and needing to be available always to call the plumber or whatever... *shudder*. But that said, despite my troubles keeping up with mowing the lawn and shoveling the walk for ONE place, if I could get it for practically nothing (say, under $20,000) then that would be worth it to effectively nearly double the size of our house.
4th-Jan-2010 10:32 pm (UTC)
I just want to know about that craft room. I want one also. What would be in yours?

Anne
5th-Jan-2010 04:28 am (UTC) - Crafts
Well, I currently have scattered pieces of crocheting, knitting, cross stitch. Also beading.

I have some matte cutting supplies, but I never got good at that.

Used to do macrame, but haven't in decades. And Raffia/Raffene.

I have a cut-the-pieces-out & build a something "model" that I just don't have room (and probably don't have the skill) for.

I have a "formafilm" kit, but I never got good at that.

I have a "make jewelry out of funky plastic stuff" that was actually kind of cool.

I suspect that I'd have to put my long-neglected candle-making somewhere other than in a carpeted room without a stove/sink, but some of the supplies could live there.

And then there are the guitars, the mandolin, the flute, the recorder, various other items, which aren't craft per se, but might live off to one side.

That's a start, eh? And yours?
5th-Jan-2010 04:52 pm (UTC) - Re: Crafts
Crochet (blanket in progress, scarf on deck).

Matte cutting supplies which need to be sold because I did not excel at it. ;)

Quilt tops. Two.

Scrapbook supplies I use for journals, albums, cards, etc...

Crayons, Markers, Paints, Colored Pencils...and the coloring books and sketch pads that go with.

Candle molds and wax.

Large box of counted cross stitch supplies, floss, and patterns.

One Mustang Model - painted, not assembled.

Calligraphy pens, pads, ink.

I'll leave the cake decorating supplies on the pantry shelves!
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